1st draftEXCISE TAX: AFFECTING THE PHILIPPINES DRASTICALLY, FOR THE WORST OR FOR THE BETTERA tax was first imposed in the course of the conflict of 1812, fought in opposition to tremendous Britain, America brought a tax on watches, rings, gold, silverware, and different luxurious items. However, throughout of its history, the U.S. government has imposed excise taxes while it has had to improve money for military prices all through wartime. The taxes had been commonly repealed or removed after the wars ended (Gale, T. 2008). Moreover, Taxation makes up a majority of our government’s profits. With this income, the government can offer us with the right infrastructure and social offerings for little if no price in any respect. Those consist of Medicare, social safety, and education.Over the numerous centuries, in which taxation was existent, human beings have cheated and prevented paying those taxes. These days’ people with excessive-income put their money into trusts, superannuation, or comprise it into businesses. Businesses would try to receive greater cash transactions. This has led to a lower in our government’s revenues, hence leading to a tax reform in hope of an extra effective result.Excise taxation as a source of government revenue, but most governments still collect sizable taxes on alcohol, tobacco products, and petroleum products. (Dutkowsky, D. H., ; Sullivan, R. S. 2014). It helps to start projects that are needed to improve the category that bears the Excise Tax. The worst of this taxes collected is another way of Politicians finding an excuse of collecting more than is needed or used.
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1st draftEXCISE TAX. (2019, May 31). Retrieved January 17, 2021, from https://midwestcri.org/1st-draftexcise-tax/